Knowledge Realty Trust IPO Launches with Solid Gains

Knowledge Realty Trust, backed by Sattva Group and Blackstone, debuted on the stock market with an impressive 4% premium over its issue price. The initial public offering, valued at Rs 4,800 crore, saw a subscription of 12.48 times, highlighting strong investor interest in its expansive office assets portfolio.

Knowledge Realty Trust, primarily supported by Sattva Group and Blackstone, began trading on the stock market with a commendable premium compared to its issue price. The units were priced at Rs 104 on the Bombay Stock Exchange (BSE), marking a 4% uptick, while the National Stock Exchange (NSE) saw a listing at Rs 103, representing a 3% premium.

The real estate investment trust (REIT), which amassed a market valuation of Rs 47,328.35 crore, offered an initial public offering (IPO) worth Rs 4,800 crore. The IPO saw a robust subscription rate of 12.48 times, with a price range set between Rs 95 and Rs 100 per unit.

Knowledge Realty Trust boasts a vast portfolio of over 46 million square feet of office assets across six Indian cities, with significant properties in Mumbai, Bengaluru, and Hyderabad. As one of five listed REITs in India, it joins peers such as Brookfield India Real Estate Trust and Embassy Office Parks REIT.

(With inputs from agencies.)